Company Plans To Enter The Volatile Auto Industry With Chinese Partner

It’s never an easy time to be in the auto business. The industry, even in the calmest of times, consumes capital. And this isn’t the calmest time. Automakers are coping with how quickly to electrify models. Some markets have embraced electrification more than others.His company, Ebro Automotive, has raised €60 million in two rounds of investments and it has plans for a public offering. Ebro has established a technical partnership with Wuhu, China-based Chery Automobile Co.

Ebro intends to start with two hybrid models and add an EV pickup later. Rouss said. The company expects to sell vehicles starting in 2025.The executive said Ebro, as an established Spanish brand, is an asset to operate in the European Union market.The EV market is most developed in China, prodded by government regulators. Europe is second, with the North American market third.Those brands will expand from an estimated 21% in 2024, AlixPartners said.

Chinese-owned automakers are cutting the time to develop new models to two years or less, AlixPartners said. That will force traditional automakers to revamp drastically how they design and engineer vehicles, the consulting firm said.The AlixPartners report said Chinese brands have a 35% cost advantage and have the flexibility in Europe and other regions to lower prices to offset tariffs.

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